To start this week’s Hidden Wealth Review, I want to ask you a question. Is your IRA really an IOU to the IRS? If you’re reading this and you have annual income of $50,000 to $150,000, the Brookings Tax Policy Center just reported that three out of ten middle income families will experience a tax increase under the Trump tax plan.
If your income isn’t between $50,000 and $150,000, that doesn’t mean your retirement’s safe. If you’ve saved $200,000 or more in a tax deferred retirement account (IRA, 401(k), 403(b), etc.), the government is gunning for your hard earned retirement savings. They are doing this in order to make up for the projected revenue they will lose from cutting the corporate tax rate. Once they do this, your IRA is essentially an IOU to the IRS!
There are two particular ways in which the government is gunning for your savings. The first way is to place a 15% growth tax on your 401(k)’s annual earnings. The second way is to come after non-spouse inherited IRA beneficiaries, namely, your children. Non-spouse IRA inheritors will not be able to “stretch” the IRA over their lifetime. They will be forced to liquidate the account within five years. This results in a huge amount of new tax for the government to collect from your children. The Senate has already passed this measure by a 100% vote.
This past week, a client confessed that, until we showed him, he was unaware how to use the tax code to grow his retirement money without tax and to also distribute it without tax. We taught him how to avoid having his retirement income negatively impact his Social Security and his Medicare Parts B & D premiums. He told me, “Now that the government’s out of my retirement, I don’t have to worry about Required Minimum Distributions and all the tax problems they can cause.”
Let me teach you how you can be a tax-free retiree. I want to show you how to get the IRS out of your IRA. New, higher taxes are coming. The time to act is now!
This coming Tuesday, I’ll be teaching my Tax Freedom Webinar. This no-cost, no-obligation educational event teaches you how to get the government out of your retirement so that you keep more of your money for you and your children. Discover how to protect your retirement savings from unnecessary taxes.
To register, go to www.RetirementProtected.com , enter the required information and submit your registration. Once you’ve registered, you’ll receive an email containing a personal link to join Tuesday’s event. These events fill quickly so you must hurry and register.
-Spouses are encouraged to attend this event together-
When you register and attend the webinar, you’ll receive an e-copy of my latest book, The Baby Boomer Retirement Breakthrough. This book teaches you the top five retirement risks and the unique solutions you can use to avoid them.
Or Call
(855) No Tax 2 U
Here’s to your Hidden Wealth,
Chuck Oliver
Best-Selling Author